Economic relations between the Kingdom of Saudi Arabia and the Republic of India continue to grow, with India being Saudi Arabia's second-largest trading partner and Saudi Arabia ranking fourth among India's largest trading partners. This notable growth in economic cooperation underscores the strong and historic ties between the two countries. During his official visit to India in February 2019, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister emphasized the historic relations between the Kingdom and India. This visit marked the beginning of a new era of strategic partnership between the two nations, leading to the establishment of the Saudi-Indian Strategic Partnership Council, co-chaired by HRH the Crown Prince and the Indian prime minister, with broad ministerial representation covering all areas of cooperation.
Within the framework of these strong relations, the Saudi Export Development Authority (Saudi Exports) has taken effective steps to enhance the presence of Saudi products and services in the Indian market, focusing on aspects that contribute to strengthening economic cooperation and developing non-oil exports. The authority is keen on participating in specialized international exhibitions to support Saudi exporters in showcasing their products and services to interested parties and visitors, as well as signing trade deals that expand their export scope. For example, Saudi Exports is participating under the "Made in Saudi" identity at the Anuga India 2024 exhibition, being held in Mumbai between August 28 and 30, with a pavilion featuring 25 leading national companies in the food products sector. This reflects Saudi Exports' commitment to expanding the export scope of Saudi products and enhancing their presence in global markets, in line with Saudi Vision 2030, which aims to diversify income sources and develop non-oil exports.
This participation also highlights the importance of the food products sector as one of the promising sectors contributing to the increase in non-oil exports. The value of exports from this sector exceeded SAR 19 billion in 2023. High-quality Saudi dates are exported to more than 119 countries, and the Kingdom's production capacity of white Vannamei shrimp has exceeded 20,000 tons, making the Kingdom one of the main global exporters of this product. The quality and diversity of Saudi food products are evident through this outstanding performance in global markets.
Saudi Exports aims to enhance exporters' readiness by providing them with specialized information and studies, helping them find suitable export opportunities. It also focuses on developing exporters' capabilities through organizing various workshops and training courses. The authority recently held a workshop titled "Empowering Exports to India and Bangladesh," aimed at exploring ways to enhance the access of Saudi products into Indian markets, reflecting its commitment to boosting trade opportunities for Saudi products.
Saudi Exports also attaches great importance to empowering exporters and addressing the challenges they face, such as customs and non-customs issues, and financial and logistical challenges, by collaborating with relevant authorities to find practical solutions that enhance companies' capabilities to successfully enter Indian markets.
The efforts of Saudi Exports affirm the Kingdom's commitment to enhancing trade exchange with India, as both countries are strategic partners working together to expand shared economic opportunities. According to recent reports, the value of Saudi Arabia's non-oil exports to India exceeded SAR 23 billion in 2023. In June 2024, the value of Saudi Arabia's non-oil exports to India reached approximately SAR 1.7 billion, with chemical industry products accounting for the largest share at SAR 704.2 million, followed by plastics, rubber, and their products at SAR 382.9 million, and pearls, precious or semi-precious stones at SAR 313 million. Over the past five years (2019-2023), Saudi non-oil exports to India totaled around SAR 100 billion, reflecting the strength and competitiveness of Saudi products in Indian markets.